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Trade in focus: S&P 500

Equities 1 minute to read
Picture of Michael McKenna
Michael McKenna

Head of Editorial Content, Saxo Bank

Summary:  Saxo's Trade Signals tool has identified a potential downside breakout in the S&P 500.

Saxo's Trade Signals tool has identified a potential downside break out of a rising channel formation in the US500.I, or S&P 500 index CFD. The tool gives a probability of 70% to this analysis, with this measurement evaluated against past performance over six months with respect to this pattern type.

(Disclaimer: past performance probability may not be indicative of future performance.)

The CFD traded at 2,830.56 as of publication, with Trade Signals identifying this move as having the potential to extend towards 2,818.57 in the coming nine hours. 

US 500 channel up
Source: Saxo Bank
US 500 Non Prediction 4 hour candle sticks
US500.I (source: Saxo Bank)
Click here to learn more about Trade Signals (powered by Autochartist)

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